Crane Consulting started the year with total assets of $58,000 and total liabilities of $14,000. During the year, the business recorded $47,000 in consulting revenues and $29,000 in expenses. Crane made an additional investment of $8,000 and withdrew cash of $14,000 during the year. The owner's equity at the end of the year was:

a) 33,000

b) 56,000

c) 54,000

d) 62,000